Establishing and maintaining good credit is important – whether you want to obtain a mortgage, a car loan, or a student loan, your creditworthiness is the key to your financial life. If you have bad credit, it will be more expensive for you to borrow money for any purpose because your interest rate will be higher.

Whether you have 12 weeks before your child attends college or 12 years before that big day, there are several ways to fund the cost of college. Don’t be distraught if you don’t have enough saved or if you think you might not be able to save all you need. Paying for college is typical a mix of savings, current earnings, scholarships, student loans and other loans.

Even more scary than your child leaving the nest may just be paying for their new nest! If your son or daughter will be attending college in the near future, you may already be experiencing some anxiety about how to pay for college tuition. Fortunately, there are several options you can look into for financial assistance.

In today’s world, younger generations possess a large amount of spending power and influence. This power is ideal for companies because many items kids buy fall under the “luxury” category, things like: games, music, and clothing.

Unfortunately, the advertisements that attract youth to these items usually work by making them feel insecure. Teenage years are often the easiest target because issues like body image, power, and peer acceptance are sought after by teens and easy for advertisers to focus on.

Whether your parents taught you at a young age how to handle money, or you’re ready to get a grip on it now, it’s never too late to be financially responsible. In many cases, college is the first experience we have that requires managing rent and other expenses. This is also a time period where college students make many mistakes. Below we have listed some common mistakes college students should avoid. If you’re aware of these lessons now, you won’t have to look back and regret your financial mistake later.

If you’re not knowledgeable with your own finances, this is the time to educate yourself. It’s never too soon or too late to begin talking with your children about money. Don’t know where to start? Begin with books written by people known for helping others with financial success. The sooner you get your finances under control, the sooner you’ll be able to lead your children by example. Remember, actions speak louder than words.

Here are four tips for teaching your kids about money:

1) Keep it age appropriate: The current economic situation makes it difficult to hide conversations about money. If your child happens to overhear your discussions about finances, remember to keep your explanations in a language they understand. It may be best to refer to a bank account or ATM as a piggy bank when speaking to younger children. When your child is older, tell them mall money comes from working (in their case an allowance from chores). Remember, it’s okay at any age to tell your child they can’t have the newest toy or overpriced t-shirt because it doesn’t fit into your budget. Even though it may be hard, you’re setting an excellent example on how to set boundaries and stick to your budget.